Greece does not have the right to 1.2 billion euros ($1.3 billion) it believed it mistakenly returned to the eurozone's bailout fund, an spokesman for the fund said Wednesday after talks with Greek officials.
A working group from the Eurogroup of eurozone finance ministers met with Greek officials to discuss the amount returned by Greece's financial stability fund (HFSF) to the European Financial Stability Facility (EFSF) in late February.
"There was agreement that, legally, there was no overpayment from the HFSF to the EFSF," said the EFSF spokesman, adding that the working group would consider how to move forward on the issue.
Greece's radical leftist government last month was obliged to return 10.9 billion euros in EFSF bonds that remained unused in a rescue fund created for the recapitalisation of Greek banks.
But the country's new leaders later realised that the previous conservative-socialist government had used 1.2 billion euros from the HFSF's own funds to support the banks, so believed it was entitled to that much in aid.
Though relatively small, the sum is vital to the government.
Greece is facing a cash squeeze since the EU-IMF held back on disbursing loan funds to Athens after the anti-austerity Syriza party came to power in January promising to roll back painful reforms.
The government's coffers are believed to be close to empty, with 15.5 billion euros in debts coming due through August.
A source in Athens said the texts of agreements were clear that unused funds should be returned, but as the EFSF spokesman implied, the issue is not closed as politicians could amend the terms.
GMT 14:02 2018 Sunday ,02 December
RDIF says $2 billion will be invested in Russian economy from joint Russian-Saudi fundGMT 12:03 2018 Friday ,30 November
Canada on track to sign new free trade deal with US and MexicoGMT 07:59 2018 Wednesday ,21 November
Merkel policies in focus in final debate on draft German budgetGMT 16:57 2018 Wednesday ,31 October
Putin to discuss relations development prospectsGMT 16:04 2018 Monday ,29 October
Russian, Cuban presidents to discuss strategic partnershipGMT 12:57 2018 Saturday ,27 October
"Undeclared war" forces Russia to boost defense spendingGMT 15:45 2018 Friday ,26 October
Medvedev to represent Russia at upcoming APEC summitGMT 14:12 2018 Thursday ,25 October
Saudi Arabia plans to invest in Russian-Chinese Fund soonMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor